PE-VC Fund Investments
Security tech startup IDfy raises $25-M led by Neo Asset Management
Mumbai-based IDfy has raised INR 220 Cr (approximately USD 25 million) in a Series F funding round led by Neo Asset Management with participation from Blume Ventures, Emerald Lush, Elev8, IndiaMart, and Kael.Founded by Ashok Hariharan, Vineet Jawa, and Hatim Baheranwala, IDfy develops technology-driven products and solutions for authenticating individuals and businesses. Its platform assists enterprises in preventing fraud and onboarding verified entities with minimal friction.
Between Aug 2012 and Nov 2024, IDfy had attracted about USD 59 M from Analog Capital, IndiaMART, Elev8 Venture Partners, KB Investment, Tenacity Ventures, Blume Ventures, Dream Incubator, NB Ventures, NEA, Trifecta Capital, Beenext, & others.For FY25, IDfy had reported about INR186 Cr in Operating Income and about INR 1.59 Cr in PAT.
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